financing constraints and evaluates its distribution on a balanced panel of SMEs. For application and cross-country comparison … the Czech Republic our results suggest that firms were more constrained during the crisis and their financing constraints … financing constraints in Slovakia and the Czech Republic. …

strongly support the market power hypothesis, namely, that increased market power results in increased financing constraints … that suggests that the true relationship between bank market power and financing constraints might not be fully explained … by the existing theory. Finally, we find that the effect of bank market power on financing constraints increases in …

maturity. We find that in the absence of financing constraints short-term debt maximizes firm value. In contrast with most … of non-negative equity net worth or debt financing constraints and firms behave more conservatively in the use of initial … financing constraints higher volatility may enhance firm value for firms with relatively low revenue that have out …